TD Waterhouse Canada Inc. Sells 27,257 Shares of Brookfield Business Corp $BBUC

TD Waterhouse Canada Inc. lowered its stake in shares of Brookfield Business Corp (NYSE:BBUC) by 3.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 744,361 shares of the company’s stock after selling 27,257 shares during the period. TD Waterhouse Canada Inc. owned approximately 0.36% of Brookfield Business worth $18,387,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its position in Brookfield Business by 78.5% in the second quarter. Public Employees Retirement System of Ohio now owns 16,012 shares of the company’s stock valued at $478,000 after purchasing an additional 7,044 shares during the period. Tidal Investments LLC acquired a new position in Brookfield Business during the second quarter worth $529,000. Hsbc Holdings PLC lifted its stake in Brookfield Business by 73.7% during the fourth quarter. Hsbc Holdings PLC now owns 33,914 shares of the company’s stock worth $1,211,000 after purchasing an additional 14,393 shares in the last quarter. Citadel Advisors LLC acquired a new position in Brookfield Business during the second quarter worth $1,140,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Brookfield Business during the second quarter worth $2,283,000. Hedge funds and other institutional investors own 85.04% of the company’s stock.

Analysts Set New Price Targets

BBUC has been the subject of a number of research reports. TD Cowen dropped their price objective on Brookfield Business from $32.00 to $29.00 and set a “hold” rating for the company in a research note on Monday, October 12th. Royal Bank Of Canada cut their price objective on Brookfield Business from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday. Wall Street Zen lowered Brookfield Business from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. RBC Dominion Securities decreased their target price on Brookfield Business from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Scotiabank set a $40.50 target price on Brookfield Business in a report on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $36.83.

Brookfield Business Trading Down 0.8%

Shares of BBUC stock opened at $26.56 on Friday. Brookfield Business Corp has a fifty-two week low of $24.80 and a fifty-two week high of $38.25. The company has a 50 day moving average price of $26.95 and a 200 day moving average price of $30.46. The stock has a market capitalization of $5.46 billion, a P/E ratio of -68.09 and a beta of 1.33. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.22 and a current ratio of 1.44.

Brookfield Business (NYSE:BBUC) last released its earnings results on Friday, July 31st. The company reported $0.18 earnings per share (EPS) for the quarter. The company had revenue of $6.50 billion for the quarter. Brookfield Business had a net margin of 1.13% and a return on equity of 2.05%. Equities research analysts predict that Brookfield Business Corp will post 5.31 EPS for the current fiscal year.

Brookfield Business Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were paid a $0.0625 dividend. The ex-dividend date was Monday, August 31st. This represents a $0.25 annualized dividend and a dividend yield of 0.9%. Brookfield Business’s payout ratio is -64.10%.

Brookfield Business Profile

Brookfield Business Corporation (NYSE: BBUC) is a publicly traded company that provides investors with an alternative way to participate in the operations of Brookfield Business Partners L.P. The corporation’s shares are designed to be economically equivalent to units of Brookfield Business Partners and are supported by the company’s portfolio of operating businesses.

Brookfield Business Partners and its affiliated businesses focus on owning and operating companies in sectors including business services, infrastructure services, healthcare and industrial operations.